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  • From Yahoo! Business News
  • Europe rebounds as Ukraine rebels hand over black boxes

    Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchangeBy Marc Jones LONDON (Reuters) - European markets rode a global rebound in risk appetite on Tuesday helped by the first signs of cooperation from Ukraine's pro-Russian separatists over the downed Malaysian Airlines plane. It helped settle the recent market nerves, lifting shares both in Europe and Asia and pushing back many safe-haven assets like the yen, gold and government bonds that have been in demand over the last week. Europe's FTSEurofirst 300 index was up 0.7 percent as the main bourses in London , Frankfurt and Paris all climbed, while dollar-traded Russian stocks in Moscow saw their first rise in almost two weeks. The rebound in risk was also aided by more solid U.S. company earnings and merger activity in the previous session, though analysts remained wary about Ukraine and Russia given the delicate situation.


  • China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan
    By Adam Jourdan SHANGHAI (Reuters) - The latest food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc and others, as well as McDonald's products as far away as Japan. McDonald's Corp and KFC's parent Yum Brands Inc apologized to Chinese customers on Monday after it emerged that Shanghai Husi Food Co Ltd, a unit of U.S.-based OSI Group LLC, had supplied expired meat to the two chains. On Tuesday, Starbucks said some of its cafes previously sold products containing chicken originally sourced from Shanghai Husi, a firm that was shut down on Sunday by local regulators after a TV report showed staff using expired meat and picking up meat from the floor to add to the mix.
  • Fund managers unconvinced by Apple rebound

    The Apple logo is pictured at a retail store in the Marina neighborhood in San FranciscoBy David Randall and Edwin Chan NEW YORK/SAN FRANCISCO (Reuters) - Apple, once a can't-miss stock, is finding it tough to persuade portfolio managers to come back into the fold. Yet the company remains one of the most significantly underweighted stocks among large cap fund managers, according to a Goldman Sachs report. Part of the reason for a lack of portfolio manager enthusiasm is that Apple Inc no longer seems to be the hot growth company of old, fund managers say. Apple reports results for its fiscal third quarter on Tuesday, July 22.



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